When deciding "what to produce", what is said to be limited?

A centrally planned economy promotes ...

It is the study of the nations economy as a whole.

It is the measure of a country's total production of final goods and services in a given period of time.

It is the continuing increase of the general price level in the market.

It is the decrease in the general level of prices of basic commodities.

It shows the cycle of goods and services in an economy.

This happens when there is an increase in the production of goods and services.

Which of the following situation describes unemployment?

Which of the following formulas is used to compute for GDP using the income method?

It is the total market value of all the final goods and services in a given period of time by the country's citizens.

Solve the GDP using the Expenditure method.

It is the measure of national output that adjusts GNP to account for price changes.

What is the nominal GNP growth rate from 2016-2017?

A period of macroeconomic expansion or growth, followed by a period of contraction, or decline.

The proportion of any change in income that is spent rather than saved is

How much is MPS in an economy when MPC is .8?

An economy is in macroeconomic equilibrium. If Y = 200, C =100, I =30, G=40 and M =30, what is the value of exports?

The slope of the consumption function is

It is show as macroeconomics, except...

What is the not the macroeconomics goals?

The determination of price and the behavior of individual markets are studied in _____. On the other hand, topic such as business cycles unemployment and inflation are studied in_____.

Which of the following are components of the macroeconomics?

Macroeconomics approaches the study of economics from the viewpoints of

The economy must operate at maximum capacity refers to

____ means total of real production of final goods and services available in the country.

____ is the branch of economies that studies the individual decision making such as households, firms and government.

Which of the following is related to macroeconomics?

Equilibrium in macroeconomics refers to ___.

Unlike _____________, which defines production based on the geographical location of production, the ________________ allocates production based on location of ownership.

Governments can choose to increase or decrease taxes and/or money to influence the economy.

Balance of payments is the register of all economic transactions between two countries in the same continent and the rest of the world.

Governments actions and policies that restrict international trade, with the intent of protecting local business and jobs from foreign companies, also known as Free Trade.

Government exist to help people to deal with scarcity and re-distribute the resources that economy alone would not.

As a macroeconomic indicator, it refers to the percentage of the population that is:

•OUT of work.

•LOOKING for work.

•WILLING to work.

Refers to the tension between our limited resources and our unlimited wants and needs.

For an INDIVIDUAL, resources include time, money and skill.

For a COUNTRY, limited resources include natural resources, capital, labor force and technology.

Deficit measures how much more expensive a set of goods and services has become over a certain period, usually a year

Deficit measures how much more expensive a set of goods and services has become over a certain period, usually a year

Where are factors of production (land, labor, etc) exchanged in the circular flow model?

Someone buys a car in exchange for a large amount of money. They have completed an exchange in which part of the circuclar flow model?

A person stocks shelves at a grocery store and receives a wage. They have completed an exchange in which part of the circular flow model?

The circular flow is made up of a continuous interaction of which three groups?

Which of the following is a worker?

Which of the following describes a machine used to produce a product?

What are the four main parts of the circular flow diagram?

Which of the following is the consumption sector?

In a closed economy, ........................... is not included?

What do the firms supply in the circular flow of economy?

BONUS QUESTION: Who is the Dean of the College of Teacher Education of Zamora Memorial College?